m3n4.net
m3n4.net October 18, 2018


Cryptocurrency Market Plunges In Wake of S Korean Regulatory Crackdown

11 January 2018, 12:28 | Vera Richards

Cryptocurrency Market Plunges In Wake of S Korean Regulatory Crackdown

Cryptocurrency Market Plunges In Wake of S Korean Regulatory Crackdown

Bitcoin was one of the currencies to sink when CoinMarketCap, one of the industry's most prominent global indexes, carried out the move without any warning, resulting in a steep drop in all virtual coins they track.

Ripple prices fell roughly 25% Monday to $2.50, leading a broader sell-off in the cryptocurrency markets.

'Every crypto is priced at a 30 percent premium in South Korea, ' said Greg Dwyer, head of business development at cryptocurrency derivatives exchange BitMex.

Observers increasingly are questioning the value of various cryptocurrencies, and the 20% plunge in Ripple on January 8 shows that significant risk exists. That pushed Ripple's market capitalization down to $98.5 billion, and lifted Ethereum's value to $111.9 billion, according to data firm CoinMarketCap.

Red Sparrow Trailer: Jennifer Lawrence Learns the Spy Game
Check out the trailer above to see Lawrence undergo tortuous training, combat and don unrealistic swimsuits. Brutal training subsequently shapes Dominika into the most risky operative the service has ever produced.

XRP is down 11% over the last 24 hours, while bitcoin and ethereum are down 7% and 2%, respectively.

The Cboe futures contract for January had hit an intraday low of $14,560, before recovering to $15,040 at the time of writing.

On Monday, South Korean regulators inspected six local banks that offered cryptocurrency accounts to see if they were observing anti-money laundering rules. Ripple is now trading at around $3.30 on the three platforms, well above the market average compiled by Coinmarketcap.

Then, CoinMarketCap, a major source of information in the crypto world, made a decision to remove data from South Korean exchanges in its calculation of asset prices.

Nine killed in latest crackdown on Iran protests
Around 100 people were arrested overnight in the same region, state television reported. The towns are all in Iran's central Isfahan province, about 215 miles south of Tehran.

Cryptocurrency prices tend to be much higher on South Korean exchanges because of huge demand and monetary restrictions in that country, analysts said.

Cryptocurrencies trade at a premium in South Korea because "it's very hard to get cash out of the country", Dwyer explained.

The year 2017 may forever be known on Wall Street as the year of bitcoin.

"You can look at it two ways and say Coinmarketcap taking Korean prices out of their averages makes the performance of bitcoin and cryptos look worse than they otherwise would, [but] the flip side is that in the past they weren't reporting them accurately".

Egypt denies report that it accepts Trump's Jerusalem recognition
He added, according to the Times , "At the end of the day, later on, Jerusalem won't be much different from Ramallah". The status of Jerusalem has always been a central issue in the decadeslong Israeli-Palestinian conflict.

Ripple is a USA -based provider of blockchain-based banking payments and it created XRP to facilitate cross-border payments and institutional settlement in seconds.



Other News

Trending Now

Woman sexually assaulted during Spirit flight from Las Vegas to Detroit
Both Ramamoorthy and his wife gave lengthier statements later indicating that the pill Ramamoorthy had taken was "plain Tylenol". He claimed that he had done nothing to his co-passenger, but that his wife had told him that Celia was sleeping on his knees.

South Texas in desperate need of blood donors as supplies run low
Donations have been down across the country due to severe winter storms in some areas and the usual holiday season slowdown. Their shelf life is very short-only 5 days-while whole blood or red cell donations can last 42 days.

MPs call for 'latte levy' on disposable coffee cups
Creagh said regarding the confusion that coffee chains have created about coffee cups being eligible for recycling. Mary Creagh, chairwoman of the parliamentary group, said it was time for a "revolution" in recycling.

HPD: Man arrested, found with guns, ammo in downtown hotel room
That's where they found an AR-15, a shotgun and a handgun, as well as "many rounds of ammunition", the paper reported. The man has been arrested on charges of unlawfully carrying a weapon and trespassing, according to KHOU Houston .

Manhunt underway for MI couple accused of scalding 4-year-old
Marshals are searching for a Sumpter Township man and woman after police found a 4-year-old daughter dead in their home. The Wayne County Prosecutor's Office later issued a warrant for the arrest of Diaz and Fields, according to police.

300 flights delayed, 8 cancelled due to low visibility at IGI
Delhiites on Monday witnessed dense fog for the second consecutive day with minimum temperature settling at 5.7 degree Celcius. As many as 56 trains were delayed, 20 were rescheduled and 15 were cancelled, according to CPRO, Northern Railways.

Indian state leaves 13 million citizens off register
National Register of Citizens (NRC) state coordinator Prateek Hajela releases the first draft of NRC in Guwahati , on Monday. Assam has been driven into a conflict between the permanent residence and those who have migrated from Bangladesh.

Cooper: Trump farms out voting fraud probe to Department of Homeland Security
Trump said there was no reason to continue the commission when the work being done could be carried out by existing agencies. One panel researcher was arrested on charges of child pornography, while a commissioner, former Arkansas state Rep.

Overwatch League Gives Twitch Exclusive Broadcast Rights
The deal, announced earlier today , is believed to be the biggest exclusive distribution deal in esports history. In total, that's technically 312 new color variant skins available; one for each hero per team's color scheme.

'Jeopardy' host Alex Trebek undergoes brain surgery, takes medical leave from show
Episodes of Jeopardy! are filmed months in advance of when they air, so there are plenty of completed episodes still due out. He explained that he suffered the subdural hematoma, or blood clots on the brain after the injury about two months ago.